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FOR IMMEDIATE RELEASE                                                          Contact: Julie Cram
June 6, 2002                                                                                                     202-482-3809

DEPARTMENT OF COMMERCE ANNOUNCES
MARKET ECONOMY STATUS FOR THE RUSSIAN FEDERATION

            Today the Department of Commerce’s Import Administration announced its determination that the Russian Federation has made the transition to a market economy for purposes of the U.S. antidumping and countervailing duty laws. This decision is the culmination of a nine-month, public investigation conducted under U.S. law.

The effective date for Russia’s graduation is April 1, 2002.  As a result of the Department’s finding, the U.S.-countervailing duty law will now apply to Russia.  Furthermore, the Department will now use the standard market economy methodology in antidumping cases once a sufficient period of time has passed so that adequate market economy data is available.

The Decision Memorandum may be found on Import Administration’s website: www.ia.ita.doc.gov.

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